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October 12, 2020 • Issue 20:10:01

Manifesting our digital commerce

destiny – Part 3

In addition to giving consumers and card issuers more
ways to engage, new solutions have democratized card
issuing and challenged its very definition, Bharghavan
noted. Ondot's recent Harris Poll found even before the
COVID-19 outbreak, three out of 10 Americans would have
considered leaving their banks for a technology company
that provided a better card experience.
"This was the first time we've seen the card experience as
a primary driver, with two out of three Americans 55 or
younger considering getting a payment card from a tech
company," Bharghavan said. "Among younger Americans,
one of the most interesting data points in our Harris poll
is that consumers are even willing to share data in order to
get card management services."
By Dale S. Laszig Merchant experience

or decades, the payments industry has modeled Eugene DeSilva, general manager of PayVus at Aliaswire,
the way to digital transformation in merchant agreed that payment card issuing is no longer the exclusive
services. Mobile, digital and cloud-based inno- province of card brands and financial institutions.
F vations have created faster, simpler and more Aliaswire combined card issuing with merchant acquiring
secure commerce methods. This series spotlights payments in a patented solution called PayVus, a radical departure
leaders who are continuing to innovate during the COVID- from the traditional merchant onboarding process, he
19 pandemic to not only mitigate its economic aftermath stated. "Imagine you're a small business owner and you
but also set the stage for realizing the full potential of digi- sign up for merchant acquiring to accept cards and at the
tal commerce. same time you have the ability to get a business credit
card," DeSilva said. "Our PayVus platform can approve new
Part 1 explored best practices employed in response to the customers in as little as four minutes, providing business
pandemic. Part 2 recounted the changing role of hardware
in payments. This final installment delves into disruptive
approaches to merchant acquiring, card issuance, software
design and processing infrastructures.
Contributed articles inside by:
Customer experience

In a keynote presentation at the August 2020, Mobile Jeff Fortney .............................................................................................16
Payments Conference, Vaduvur Bharghavan, CEO at Ondot
Systems, explained how technology companies have raised Marc Beauchamp ..................................................................................24
the bar for credit card issuers. "New tech is disrupting the Adam Atlas ..............................................................................................26
payments business," he said. "Since Apple launched Apple
Card, a steady drumbeat of tech providers, like Google and
Samsung, Venmo and Square, have come up with different TOC on page 3
types of solutions."

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